Suburb Profile Report for Lenah Valley TAS (7008)

Lenah Valley House: Median price $457,500, Annual capital growth 4.06%, Number of sales 77, Weekly median advertised rent $390

Lenah Valley Unit: Median price $278,000, Annual capital growth 2.89%, Number of sales 37, Weekly median advertised rent $290

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

TAS has seen average median house prices change by 4.21% which means that Lenah Valley, 7008 has done well for property investors by showing a capital gain of 7.65% over the last year

A 17.31% growth in median value for property investors in Lenah Valley,7008 puts this suburb at number 30th in terms of best performing suburbs in TAS

Lenah Valley7008 is located in TAS which offers an average discount of -7.06% to property investors. Lenah Valley itself is showing figures that indicate -6.94% is the average achievable by property buyers investing in the suburb.

Often selling an investment property can take time, and in Lenah Valley the average time real estate has been on the market is 49.19 days.

Using the current median advertised rental of $390 and the average annual increase in value of a median property of 4.06%, investors should hope to achieve an overall return of 4.43%

Giving property investors a an unimpressive capital gain of -0.18% for the last year, Lenah Valley, 7008 is the 1109th highest performer in Australia in this respect.

Taking the average capital gain, or increase in median house value, Lenah Valley,7008 has racked up an average of -0.18% over the period. This ranks it number 1504th in the whole country for real estate investors looking at median house price increases.

Property investors looking for a bargain in Lenah Valley should be aiming for at least -6.70% off the asking price, which is the average vendor discount being achieved at the moment.

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Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.Full summary

Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.

There is a reasonable level of amenities within the suburb itself, including a primary school, a Catholic school and a number of shops, cafes and restaurants on Augusta Road. The wider amenities of New Town and North Hobart are also within easy reach, as is the larger shopping centre in Moonah. There are also a number of reserves and parks in the area, as well as impressive views of Mount Wellington to the west and the Derwent River to the east.

It’s affordable in comparison to neighbours Mount Stuart, New Town and West Hobart, and demand for property is high, with realestate.com.au reporting 26 people searching per property. This suggests the scope for further growth is good. Properties in the older eastern part of the suburb tend to fetch a premium.

 

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Metrics i HOUSE UNIT
$457,500 $278,000
7.63% -1.42%
7.65% -0.18%
4.06% 2.89%
$390 $290
77 37
4.43% 5.42%
49.19 46.72

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 5852
Median household income ($/weekly) 1265
Median age of persons 39
Median housing loan repayment ($/monthly) 1620
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 676 11.5
    25-34 years 729 12.5
    35-44 years 921 15.7
    45-54 years 887 15.2
    55-64 years 724 12.4
    Others 1916 32.7
    Age Group
    Census Count Percent(%)
    Registered Married 2093 46.7
    Not Married 1906 42.5
    Defacto Relationship 487 10.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 4867 85.7
    Japan 47 0.8
    Papua New Guinea 51 0.9
    United Kingdom 223 3.9
    Other 175 3.1
    Others 316 5.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 52 0.9
    Christianity 3476 63.3
    Islam 58 1.1
    Other Religious Groups 47 0.9
    No Religion 1816 33.1
    Others 38 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 225 10.3
    $600-$799 222 10.1
    $1,000-$1,249 218 9.9
    $1,500-$1,999 323 14.7
    $2,000-$2,499 210 9.6
    Others 993 45.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1865 39.9
    Not in the labour force 1407 30.1
    Employed, worked part-time 1104 23.6
    Employed, away from work 170 3.6
    Unemployed, looking for work 127 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 332 10.6
    Professionals 942 30.0
    Technicians & trades workers 389 12.4
    Community & personal service workers 334 10.6
    Clerical & administrative workers 552 17.6
    Others 590 18.8
    Occupation
    Census Count Percent(%)
    Pre-school 37 2.6
    Infants/Primary 471 33.3
    Secondary 409 28.9
    Technical or Further Educational Institution 147 10.4
    University or other Tertiary Institutions 313 22.1
    Others 37 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5020 89.6
    Flat, unit or apartment 332 5.9
    Semi-detached, row or terrace house, townhouse 235 4.2
    House or flat attached to a shop, office 14 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 924 39.3
    Fully owned 875 37.2
    Rented 539 22.9
    Other tenure type 16 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals